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Perhaps your sum is from; an inheritance, a lottery win, the sale of a business or property, an insurance pay-out, or just a stroke of luck. Whatever the case, you’ll soon start thinking about what to do with the funds. Any extra cash is always an opportunity to improve your financial situation, but many people waste such windfalls because they don't have a specific plan of what to do... Read more Read more

The question to fix or float is nearly as old as mortgages themselves. Mortgage competition is heating up in what has been called the ‘rate wars’ between banks and other financial institutions. Mortgage rates are determined by banks, typically based on the rate at which they can borrow from international banks and the Reserve Bank. The official cash rate (bank rate) has already dropped... Read more Read more

While it’s always been a challenge to get together the deposit for a home, it’s certainly not got any easier for first-home buyers over recent years. Having a roof over your head to call your own is the cornerstone of most people’s financial plan, so to help out, here are the top five ways you can get a bigger home deposit: 1. Increase your savings Increasing your savings is a... Read more Read more

Self-insurance is a term used to describe when a person or company sets aside funds to meet contingency or emergency needs such as; injury, loss, or any other event such as, a person’s home being knocked down by an earthquake. If such an event happens, you spend the saved sum to help sort out the situation. But if the event doesn’t occur, you get to keep the money you may have otherwise paid... Read more Read more

Myths about money are everywhere. Unfortunately, much of what you know about money is probably wrong and holding you back from success in your financial life. We all must be aware of how our thoughts impact our behaviour with money. As we all know, how you think and feel often dictates how you’ll act. We truly are living in the age where we have access to information 24 hours a day,... Read more Read more

Earlier this month, the Reserve Bank of New Zealand lowered the official cash rate to the lowest it’s been in New Zealand’s history. This is a significant financial event, with practical implications for most Kiwis. So what does it mean for you? First, let’s summarise what the Reserve Bank is. Read more Read more

Early retirement is the major lifestyle goal of many people. However, early retirement isn’t always all it’s made out to be, so it pays to be aware of potential issues and how to avoid them. Here are the top four pitfalls of an early retirement: 1. Spending too much during the early years of retirement The primary challenge when choosing to retire early is making sure... Read more Read more

Imagine if what we know now about finances, we knew back in our teen years – how much better off would we all be? When most of us were in high school, we didn’t learn anything about money, budgeting, or investing. However, nowadays, by the time you leave your teenage years, you’re hopefully no longer financially clueless. Here are six of the best financial lessons you wish you knew as... Read more Read more

For many, it can seem like becoming wealthy is an impossible task. This feeling can be made worse by present-day realities such as expensive housing and low interest rates for any money we save in the bank. Thankfully, according to research which canvassed a wide range of millionaires, becoming wealthier requires only two qualities that anyone can develop: perseverance and resilience. That... Read more Read more

Property investment has been a great method of wealth creation for many New Zealanders over the years, especially for generations such as the ‘baby boomers’. But recently, a lot of things have changed, or are about to, including: Especially in larger cities, yields are too low to make a cashflow profit, It is becoming harder to offset any rental property cashflow losses... Read more Read more

No matter what you earn, building a comfortable savings and investment nest egg will be difficult if you’re constantly spending on a multitude of things – even if you can afford them. While nice things and experiences can be tempting, here are four ways to ensure you say no to purchases – even when you think you can afford it. 1. Perform some quick maths to check your reality... Read more Read more

Recently proposed changes to the amount of financial backing New Zealand banks need to operate could have a significant impact on all New Zealanders with a mortgage – or about to get one. Such changes could also impact those saving money in the bank. Read more Read more

Hot on the heels of introducing restrictions to property ownership by non-residents and the extending of the “bright line test” for taxable property sales from 2 years to 5 years, the Labour-led coalition government is now following through with another of its property-related proposals aimed at levelling the playing field for taxpayers. Whilst most people were busy buying Christmas... Read more Read more

“Getting more exercise” is routinely the most common New Year’s resolution. However, while joining a gym may seem admirable, it is generally one of the worst investments you can make. The reasons for this are deeply embedded in the way all humans make and keep commitments to ourselves, the business model of the fitness industry, and even behavioural economics. But before we get into... Read more Read more

In a perfect world, we would all have a financial adviser who you could check in with regularly, including calling before making any investment decision or big purchase. But while nearly everyone benefits from working with a financial adviser, the cost often prevents it being worthwhile. Clearly, advisers must charge a certain amount to make a living (and don’t even get us started on the... Read more Read more

Multimillionaire author and speaker Jim Rohn famously said that we’re the average of the five people we spend the most time with. The principle is that the more quality time we spend with good people, the more pearls of wisdom we begin to hear from them, then the more wisdom we implement in our own lives. Here’s some of the best financial advice you’ll ever hear, collated from experts... Read more Read more

We all know that sinking feeling of knowing you’ve been ripped off. Unfortunately, in the financial world there are quite a few offerings, products, services, and outright rip offs that you should be aware of. Awareness can help you avoid that sinking feeling. While many of these financial offerings are appropriate under the right circumstances, it can sometimes still be difficult to... Read more Read more

The new place Milestone Direct has just moved into a brand-new office in Smales Farm, Takapuna. The team now shares the top floor of the Business Hive building (B:Hive) with other major and minor businesses including divisions of financial heavyweights ANZ, ASB, and KPMG. While our old office served us well, and we made some great memories there, we couldn't be more... Read more Read more

By its very nature, investing involves risk. When you invest any sized sum, whether it's into a property, KiwiSaver, shares, or a managed fund, you accept the risks associated with that particular investment. The nature of all investments is that there are constant market fluctuations - peaks and troughs - when investment values rise and fall. However, with nearly... Read more Read more

Retirement calculators seem to be popping up everywhere, and people are betting their financial future on them every day. Unfortunately, the calculators are often giving fictitious outputs based on assumptions that have little to no chance of being accurate. Here are six reasons you can’t trust retirement calculators, and what you can do to ensure you’re getting the best predictions... Read more Read more